Power System Analysis Software Market: Survey On Emerging Opportunities 2017 - 2025

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The power system analysis software market is expected to witness robust growth in the near future. The market is expected to reach an evaluation of  US$10,245.6 mn by 2024, clocking a tremendous 12.6% CAGR during 2016-2024.

The rising demand for energy consumption, challenges related to regular maintenance of networks, and ability to predict growth in real-time are expected to drive growth. Major trends like intelligent transportation systems are expected to create new opportunities for revenue generation for players in the power system analysis software market.

power system analysis software market

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Key Trends in the Power System Analysis Software Market

  • Rising demand for energy generation, and inefficiencies in current supply are expected to plague growth of the global economy in the near future. The global demand for energy is expected to peak around 778 Etta Joule by 2035. Additionally, governments like EU are tightening regulations to put more pressures on various industries to meet sustainable energy goals. For example, EU countries are expected to generate 20% of final electricity from renewables by 2020. EU countries had achieved 16% share of renewables in 2014.
  • Some sectors are more under pressure than others.
  • Rising demand for sustainable energy are also expected to drive growth of the power system analysis software market. The rising investment in new energy, and challenges like carbon emissions are expected to drive government push towards sustainable creation and use of energy.

 

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